Renault to Sell Rest of Its Volvo Stake

By

David Pearson

Dec. 12, 2012 8:10 p.m. ET

PARIS—Renault SA said Wednesday it is raising about €1.6 billion ($2.1 billion) through the sale of its remaining 6.5% stake in Swedish truck maker AB Volvo, in a move aimed at bolstering the French auto maker's balance sheet and enhancing its financial flexibility at a time of slumping sales in Europe.

The move to end Renault's nearly 20-year ties with Volvo underscores the difficulties facing volume car makers in Europe as they try...